2, Th4 2022
Why JUSTICE coin steep fall in price? Did AssangeDAO fail?
Originally contained in the PDF NFT on OpenSea https://opensea.io/collection/0x90report
Democracy and freedom have been disgraced in this magical age, but they make business sense. From AssangeDAO, we can’t help thinking that the so-called Internet culture, democracy and freedom, the spirit of Crypto, these seem to be nonsense, when the bear market may be worthless.
1. Positioning and brief comments
AssangeDAO is a wonderful and typical Rug Pull (No official website, no whitepapers, no code security audits, no exchanges etc..).
Indeed, it’s a Rug Pull. But if a Rug Pull project attracts so much gold and attention, it can be the good project as well.
From an operational standpoint, it must be of great benefit to give such a high profile to a project.
Therefore, we should think of AssangeDAO as a phenomenon project, not as an imposing DAO organization.
Operation Score of AssangeDAO :
Product layer: ☆☆☆☆
Investment side: ☆☆
Marketing point: ☆☆☆
Consensus degree: ☆☆☆☆☆
Overall score: ☆☆☆
2. Storyline operation
AssangeDAO’s storyline is very simple: inspired by “People”, a group of People who believe in the spirit of decentralization want to raise money in the form of DAO, and then use the money to rescue Assange, the founder of Wikipedia.
The setup is simple but ingenious, since Mr. Assange’s support of bitcoin has long been widely credited with being the catalyst for its transformation from “Satoshi’s Bitcoin” to “everyone’s Bitcoin.” In other words, Mr. Assange himself was a big part of the initial emergence of the DAO. This setup is very suitable for Western tastes and fully embodies the original spirit of DAO.
On the other hand, unlike the vague descriptions of other projects, AssangeDAO’s purpose is clear: to raise money to free Mr. Assange (Not going to discuss it works or not).
Next, see how the story plays out. From the beginning, the Internet was flooded with retweets of Assange DAO, some believed, others thought it was a scam, and the public opinion reached its climax on February 7. But the greed of the project’s sponsors, who had no reason to open a second round of donations and failed to appease a group of people, caused many donors to complain and scold. The turning point came when Ethereum founder “V-God” made a donation and spoke out publicly, which quickly calmed the anger.
When you look back on the drama surrounding AssangeDAO, does it sound like something you’ve read before? It is important to remember that “If the project is not controversial, the operation is not good”.
3. Product level operation
The product of this kind of DAO project is the website. In terms of storytelling logic, AssangeDAO’s official website, with black and white straightforward telling us 3 things:
1. A good reason with the project
2. “Just pay it” according the rules
3. Use NFT to move funds
This is a very clear expression of the operation of a project, first drainage, then collect money, finally cash out and leave. The opening lines and background on the website are a clear attempt to create conflict and define positions.
Creating a conflict between free Internet resentment and the justice of the judicial system. Define the position that crypto punk should take to fight for freedom. It also quoted Mr. Assange as saying that “one of the best ways to achieve justice is to expose injustice.”
There, this is the nobility, this is what makes you pay.
As stated on the website, the project was inspired by the Free Ross DAO. They are smarter, of course, and Mr. Assange’s subject matter is easier to stand on the high ground of justice. Rescuing the founder of the Dark Web Silk Road is surely less compelling than rescuing Mr. Assange.
Websites raising money for THE DAO project must write the copy clearly and clearly, otherwise no one will put money into an unknown project, after all, this kind of project does not have DeFi’s APY magic mines, and there is no imagination space of the metaverse.
4. Investment operation
Smart operations or product managers will make it easier for customers to pay. The way to invest in AssangeDAO is very simple: go to JuiceBox DAO and pay. Note that I used the term “invest”, not “donate.” If you donate with an investment attitude, congratulations on gaining “Justice” but losing money quickly.
Smart AssangeDAO operators must know that most people have no idea who Mr. Assange is, and don’t care if he has a stroke or a wedding in a London jail, even if he is extradited back to the US, locked up in Arkham madhouse, Batman and Joker are Fxxking his ass. So, An investor without operational thinking is likely to be reaped. Once they learn about the project, they will most likely Google who Mr. Assange, Julian is, research his background in revealing American secrets, and then get excited, brainless, and gamble to see if their “righteous deed” turns into a windfall.
Then pay with brainless rush. An investor with an operational mindset is likely to drive the project.
Most of them don’t come from a liberal democratic background, they don’t discuss whether the judicial system is fair or not, they don’t think about whether Mr. Assange, Julian is guilty or not, they are looking at whether the project has the heat, whether it has the Fomo sentiment, whether it should be speculation or investment.
Then pay to try it out.In this case, the project’s audience is likely to pay regardless of whether they have an operational mindset.
There is almost no threshold for crowdfunding DAO projects, anyone can tell a story, and sustainable development is nonsense in this track. Realizing fundraising and realizing goals are often two different things, so the risk of investment and speculation is very high.
5. Marketing operation
When it comes to Mr. Assange’s marketing boom, there is a “ConstituionDAO”, also called “People”. AssangeDAO’s donation attracted a large number of speculators as “People” rose by tens of times and the effect of creating wealth was remarkable.
To put it simply, the profit model of such projects cannot be separated from the marketing model. When there are more people, money will be made. With the promotion of Giant Whale, everyone will pay for Fomo, and then the price will rise.
Projects about “Assange” and “People” are released on JuiceBox DAO every day, but what are the good projects?
With Fomo, there will be heat; with heat, people will donate money; with more money, there will be a strong consensus; with a strong consensus, there will be growth and money. This is a good project on the DAO track.
AssangeDAO’s marketing efforts have been minimal, with only the Assange name and the inclusion of Assange’s brother and fiancée as partners are enough to attract attention.
The marketing point of the program was to get hot, but it just didn’t get what it expected. Perhaps it would be more interesting if AssangeDAO could go a step further and draw a bigger pie for donors and investors — that is, a clearer picture of the future use of governance tokens, if only conceptually. For example, it is used to vote for the next “Good Samaritans” to rescue DAO, DAO again after DAO.
We all know that effective marketing for blockchain projects tends to be about the future, not the present.
6. Consensus operation
To put it bluntly, the consensus of a project is to look at the community. The community of the project is divided into two groups: donors and speculators. Donors are mostly wealthy.
Some of them may be rich parties who really want to save him and then donate a large amount. Such a group of people donated more than 60% of the total amount, and the amount of donation was more than dozens of ETH.
The point is that there are blockchain celebrities like “V-God”. Although he only donated 10 ETH, the impact of his brand far exceeds the investment amount.
Is there a project that doesn’t want to have something to do with this brand? If Polkadot founder didn’t have the title of Ethereum co-founder, it wouldn’t be as popular in marketing as it is now. Speculators are mostly small retail investors.
The purpose of joining the two groups in the community is different. That is to say, people of different classes have different views on the same thing.
Therefore, when Assange DAO made it clear that there was only one fundraising round, he added an additional round of fundraising, causing controversy in the organization.
Because the consensus of donors is spiritual, the consensus of speculators is economic. If you look at it from an operational standpoint, you’ll see that this kind of “conflict event” leads to a mouthwatering discussion of the entire project. It is not so much the idea of AssangeDAO’s project as the deafening volume of the community’s controversial issues.
AssangeDAO has not responded positively to the community’s doubts about secondary fundraising and NFT, and the unusual explanation is far-fetched. Because in the eyes of high-quality operators, the focus is not on the survival of reasonable and legal projects.
Anyway, regardless of whether it was intentional or accidental, AssangeDAO succeeded in building community consensus.
The so-called degree of consensus is not the unanimous voice of the mob, but the contradiction and contention of opposing classes.
7.Summary and inspiration
Taken together, the AssangeDAO project is clever, but shameful. Smart because of their business strategy; Shame because of the way they cashed out.
According to the website, the $55 million ETH they raised will be used to bid on NFT, and the proceeds from NFT will be used to pay for Assange’s rescue.
Regardless of whether this NFT is good or bad, if we follow normal logic,Why go round and bid for NFT when the project’s $55 million will go straight to Assange’s lawsuit? It is obviously going from left to right, embezzled funds, then cashed out.
Smart operation leads to wealth. If AssangeDAO failed to achieve fame and fortune, it must be that the operators suddenly lost their wisdom in the cashing link. Maybe they are not as powerful as I imagined, and all the magic skills are just a metaphysical coincidence. DAO is a good way for a project to quickly build consensus and raise funds to jumpstart a business plan in the current environment.
However, a good startup form does not mean the whole of this project. How to promote the sustainable development of DAO mode should be what every blockchain industry operator should think about.
AssangeDAO’s idea is good, it came with a good reason, and the mood of Fomo is relaxed. However, because of secondary fundraising and NFT liquidation, it makes people feel difficult to cope with each other. Fortunately, the brand is good and will not be blocked in the middle way.
“You wouldn’t even care if Mr. Assange was sentenced to 175 or 1750 if it wasn’t for the fact that Mr. Assange became a blockbuster and had the potential to make money. It wouldn’t make you 1.75USDT more.”
“While AssangeDAO got off to a good start, it didn’t have a really loyal group of supporters like “People” to get the project going.”
“This project tells a big, empathetic story that people love to hear. At the same time, from the perspective of profit-driven, the mechanism of airdrop also caused fomo sentiment in the public.”
“AssangeDAO is not a real long-term investment, the so-called DAO spirit is all grandiose nonsense.”
Originally contained in the PDF NFT on Opensea. If you are interested in 0x90’s report, please follow us via https://twitter.com/0x90_Official or subscribe the website https://www.0x90.club
- By Sean